Diamondback Energy (FANG) has provided an operational update for the third quarter of 2020- and reaffirmed guidance for the fourth quarter.The company announced production of 287.3 Mboe/d (170 Mb/d oil) in line with the Street Consensus 285 Mboe/d (171 Mb/d oil). Capital spending of $281 million was above the Street’s $245 million forecast. Accrual based capital spending was $206 million.Meanwhile realized prices (including hedge impacts) of $26.22/boe came in strong due to better natural gas liquids and natural gas price realizations.During the quarter, FANG drilled 32 gross operated horizontal wells and turned 41 wells to production in the third quarter. …read more
Source:: Yahoo Finance
